SCALE Lending Funds $46M Bridge Loan for Brooklyn Apartment Complex

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has funded a $46 million bridge loan for Arris Grand, a 113-unit apartment building located at 982-998 Fulton St. in Brooklyn’s Clinton Hill neighborhood. Completed late last year, the nine-story building offers studio, one- and two-bedroom units and amenities such as a fitness center, rooftop terrace and lounges, as well as 7,154 square feet of street-level retail space. Fogarty Finger designed Arris Grand. The undisclosed borrower will use the proceeds to retire existing construction debt and fund costs of lease-up.